Japanese Prime Minister Shinzo Abe is expected to announce his resignation on Friday afternoon (June 28) local time after coming to the conclusion that his deteriorating health will lead to continued land operations. Water becomes difficult, according to the sheet Nikkei.
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The plan came in when it was only a few weeks before his 66th birthday. According to the sheet NikkeiIt seems that the decision was taken twice after the Prime Minister went to a hospital in Tokyo for a medical check-up.
Mr Abe’s cabinet will resign in mass shortly after the ruling Liberal Democratic Party (LDP) elects a new head. According to sources from local media, the LDP is likely to hold a vote to vote in September.
Previously, Mr. Abe had received some criticism about how Japan handled the spread of the COVID-19 pandemic and economic recovery.
The decision on Abe’s resignation plan made the Nikkei stock index plummet in afternoon trading of the same day. The reference index fell more than 600 points, or 2.6%, down to 22,594 points at one point, while the yen climbed to 106.11 per dollar. Currently, investors await Mr. Abe’s official press conference for more details.
Mr. Abe has been leading the government since December 2012 after abruptly ending his first term as Prime Minister due to poor health in 2007. 2020 was a particularly difficult year for him when the viral epidemic Corona has caused severe social and economic damage to the country. Amid the crisis, Mr. Abe decided to skip the annual summer vacation at his villa in Narusawa village, Yamanashi prefecture.
He was also reported to have told aides his fatigue, while the media noticed that he sometimes had difficulty walking.
The LDP party has begun to prepare to choose a new party chairman. Former LDP secretary-general Shigeru Ishiba is likely to run alongside LDP Policy Research Chairman Fumio Kishida, according to the Nikkei.
Usually, the party holds a leadership vote between the lawmakers and regular members. In the past, the exercise period usually lasted from 7 to 12 days.
Another option is to hold elections involving legislators from bicameral houses and representatives from 47 prefectures in Japan.
In the short term, it is likely that the government will recommend Chief Cabinet Office Yoshihide Suga or Deputy Prime Minister and Finance Minister Taro Aso to take over the current cabinet.